A Great Reason to Make Mistakes
According to Paul Lemberg, an executive coach and corporate troubleshooter, it would be a mistake to try to avoid all mistakes. “Indeed, it would be a colossal blunder to attempt doing things right the first time, every time,” says Lemberg. “The only people not making mistakes are ones playing their game without risk and without novelty — and I might add — without progress. If your company cannot accommodate, even reward, failure, you cannot succeed.” Lemberg explains that doing things wrong is the number one source of innovation. “Think about it,” he says. “What did you ever learn by doing something right the first time?”
IBM’s famous motto about mistakes is legendary: “Fail Faster.” The theory is that the faster you move through the failures, the faster you discover what actually works. “Don’t prolong the agony — get it over with quickly, learn the most you can and move on,” suggests Lemberg.
“Forget about total quality and zero defects,” he said. “You can’t afford it, especially in this day and age. Don’t slow down your development cycle — speed it up. Unless the outcome of your product or service impacts life or death, the cost of perfection cannot be justified. Use the errors you generate as opportunities to improve your production process and practice great customer service.”
So Many Malls, So Little Time
The International Council of Shopping Centers recently released statistics about the economic impact of retail centers on the U.S. economy. Retail sales in shopping centers contributed a whopping $1.1 trillion to the economy last year, a 7.3 percent increase over 1999 figures. See accompanying chart for further information about shopping centers nationwide and in Nevada.
SHOPPING CENTER STATISTICS FOR 2000 | United States | Nevada |
Number of shopping centers
|
45,025
|
381
|
Total leasable retail area (sq. ft.)
|
5.57 billion
|
49.4 million
|
Number of adults shopping in centers monthly
|
196.6 million
|
1.4 million
|
CONTRIBUTIONS TO LOCAL ECONOMY
|
||
Retail sales in shopping centers
|
$1.136 trillion
|
$9.86 billion
|
Percent of total non-automotive retail sales
|
51%
|
54%
|
State sales tax revenues from shopping centers
|
$46.6 billion
|
$481 million
|
Employment in shopping centers
|
10,694,500
|
83,900
|
Percent of total nonagricultural employment
|
8%
|
8% |
NUMBER OF CENTERS BY SIZE
|
||
Less than 100,001 sq. ft.
|
28,067
|
209
|
100,001 to 200,000 sq. ft.
|
10,961
|
115
|
200,001 to 400,000 sq. ft.
|
3,924
|
44
|
400,001 to 800,000 sq. ft.
|
1,392
|
8
|
800,001 to 1,000,000 sq. ft.
|
274
|
4
|
More than 1,000,000 sq. ft.
|
407
|
1
|
Employee Benefits Add to Payroll Costs
The United States Chamber of Commerce has released statistics showing that employee benefits made up more than one-third of company payroll expenses in 1999, with heath insurance the most expensive single benefit cost. Benefits cost employers an average of $36.80 for every $100 spent on wages, with the benefit cost per employee averaging $14,060. Medical insurance premiums represented the most expensive benefit, averaging $2,777 per employee, more than federal payroll taxes at $2,666. Paid time-off — vacations, holidays and sick leave combined — added an additional $4,133 per employee. “Employers continue to make a major investment in employee benefits as an indispensable employee retention tool in today’s tight labor market,” said Dr. Martin Regalia, vice president and chief economist for the Chamber.
Washoe Residents Agree Smoking Stinks
The Washoe County District Health Department and Saint Mary’s Health Network have revealed the results of a survey assessing the attitudes of Washoe County residents toward tobacco usage. The results of the survey will be used to establish an anti-tobacco advertising campaign as part of the national tobacco settlement.
The report, entitled Beliefs and Practices Regarding Smoking and Tobacco Control Among Area Residents, found that:
97 percent agree it is important for parents who smoke to keep cigarettes out of their children’s reach.
95 percent agree inhaling smoke from parents’ cigarettes harms the health of children.
91 percent do not believe tobacco companies’ claims that they do not manipulate nicotine levels in cigarettes.
85 percent do not believe tobacco companies’ claims that their ads target only adult smokers.
84 percent agree convenience stores should be smoke-free.
The complete survey may be found in Hot Topics on the District Health Department’s Web site at co.washoe.nv.us/health.
Financial Institutions Turn to Online Learning
Financial institutions are finding that the computer isn’t just an important tool for conducting transactions. Increasingly, they are relying on the Internet as a valuable and cost-effective way to help employees learn their jobs, according to BVS Performance Systems, which provides more than 100 Internet-based courses to the financial services industry. “Web-based training can bring new staff members up to speed quickly, and it can help employees make sense of complicated compliance regulations,” said Mike Dulaney, general manager of BVS, based in Cedar Rapids, Iowa.
Dulaney said managers of financial institutions should consider five key questions when determining if online learning will benefit their companies:
Will an online learning system help meet business objectives and learning objectives? An online system may be the most efficient way to meet business-oriented learning objectives. Internet and Intranet systems offer the advantages of instant, widespread dissemination of information.
How much will an online learning system cost compared to the existing system? Internet courses can cost as little as a dollar or two per person through a learning library subscription.
Will the system provide performance measurements? A good online learning system will produce detailed reports on individual achievement, as well as summaries for regions, departments and branches.
Will it deliver the content employees need? The provider should keep all materials up to date and also be able to customize them for clients.
What have others experienced? Managers are encouraged to seek out others who have used the system and ask about their experiences.